Since none of this distribution was rolled over, the entire distribution made in 2023 is includible on your 2023 tax return where the taxable amount and 10% early-distribution penalty will be included in determining your tax liability. Any tax withholding shown on the Form 1099-R that you must enter into TurboTax will be credited on your tax return against the overall tax liability calculated on your tax return.
Since this is presumably not a disaster distribution, there is no option to spread the income over 3 years.
Sorry yes. You can avoid the 10% Early Withdrawal Penalty if you are 55 or older. The 3 year spread was only for 2020.
Since none of this distribution was rolled over, the entire distribution made in 2023 is includible on your 2023 tax return where the taxable amount and 10% early-distribution penalty will be included in determining your tax liability. Any tax withholding shown on the Form 1099-R that you must enter into TurboTax will be credited on your tax return against the overall tax liability calculated on your tax return.
Since this is presumably not a disaster distribution, there is no option to spread the income over 3 years.